I am sure I will be brandished for saying this but if you are just looking to pass through your tests fine, there are things where learning the theorems and applying them works just fine. Like, Circle Geometry tests. However its always better, and required, even if you just want to pass your tests, for real analysis, to understand the definitions of all the terms, operations, and exactly where and how the theorems can be used. Try to learn proofs to most of the important theorems.
And for everything, try to understand them in several ways. Thats a tip i read from Terry Tao's blog. Ie For all theorems and definitions, know what they mean algebraically, geometrically, intuitively etc etc. EG The derivative geometrically is the slope of the tangent at a point. Algebraically is it the limit \lim_{h\to 0} \frac{ f(x+h) - f(x)}{h}. Intuitively it is the instantaneous rate of change of a function of one variable with respect to another.
Or the mean value theorem for integrals: Geometrically it is the area of the "mean value" rectangle. Algebraically it is \frac{1}{b-a} \int^b_a f(x) dx. Intuitively it is the average value of the function between the bounds b and a.
You get the point I'm sure.